ARJO closed just over 40sek on Friday, which has been a strong roof since the middle of the 2nd quarter, resulting in a strong opening on Monday followed by alot of resistance but more support. Im hoping that they'll pump 10% to 44sek in at least a month.
Breakout on the 1st of July
Confirmation on the 10th of July
Now we're retesting the 160 levels which are the last line of defense.
Still some potential for reversal since it's not uncommon that the "last Bear" level is retested after a breakout before rallying...
M1 50 SMA and W1 200 SMA also here as a support
Monthly and weekly still under bull control
Wait...
The stock just broke the D1 381.7 resistance after testing the weekly support.
Seems aligned for a bounce.
Buy above yesterday's high at 388
Target 460
Risk 6%
Bears failed to drag it to the 5.86 support which is quite encouraging.
Weekly, Bears still in control but reversal seems possible.
Last hurdle is 1W 20 SMA which is holding so far...
Potentially high returns long term.
Risk 47% so don't bet your house on this one...
It tested twice the 1.45 daily support.
First time in June it bounced out of it but been stopped by the 50 SMA in confluence with the 1.66 Daily resistance.
Now the 50SMA will get weaker in the coming days.
Probably a good opportunity for a rally to occur.
It may want to go test the 1.29 weekly support level so I put a risk of 15%.
Set the risk at 5% if you...
![SWMA: Swedish Match AB [SWMA]](https://s3.tradingview.com/b/bciWGaHo_mid.png "Swedish Match AB [SWMA]")
